LAS VEGAS — Indiana sportsbooks suffered their worst month ever in April — including a retail sector that did not produce a single bet — costing sportsbooks an estimated $165 million in bets, according to estimates from PlayIndiana.
With a minimized schedule of sports to bet on and casinos closed for the entire month, Indiana generated just $26.3 million in wagers, according to official reporting released Monday. During a month in which online and retail sportsbooks would have expected to draw at least $190 million in bets, April’s handle was down 64.8% from $74.8 million in March. That’s the lowest monthly handle ever for Indiana sportsbooks, which launched in October 2019 with $35.2 million in bets.
“April’s results are shocking, but not at all surprising,” said Dustin Gouker, chief analyst for PlayIndiana.com. “Bettors have very few places to turn in Indiana. In some states, online casinos have driven significant revenue. But that isn’t possible in Indiana. So the industry’s results will continue to be grim until the sports world figures out a way to reopen.”
April’s wagers still produced $5.5 million in adjusted gross revenue, essentially even with March. That yielded $522,085 in tax revenue for the state.
Without legal online casino games and poker, and no e-sports betting, bettors in Indiana have largely been limited since mid-March to fringe international sports and futures betting. In fact, $21 million of the state’s handle was generated by “other” sports, far more than football, basketball, and baseball.
The NFL Draft, and to a lesser extent the WNBA Draft, gave bettors some reason to engage with sportsbooks in April. Indiana, the first state to allow betting on professional sports drafts, generated $1.3 million in football-related wagers in April, most of which came from the NFL Draft.
There are reasons for cautious optimism. NASCAR is planning on revving up in May, which could draw betting interest. The PGA Tour is planning a June tee off while baseball and the NBA continue to search for a workable solution to restart their seasons. In addition, Indiana’s casinos and retail sportsbooks could open as early as June 14.
Because retail sportsbooks were shut down entirely in April—costing an estimated $40 million in in-person bets—online sportsbooks accounted for the entire handle in the state.
The shutdown may have slowed the development of some sportsbooks apps, too. BetIndiana is still sorting through issues. And familiar brands such as William Hill, which operates a retail sportsbook at Tropicana Evansville, as well as Caesars, Fox Bet, and Unibet have yet to enter the market.